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Tag Archives: euro

FinMin Schaeuble suggests Greece should issue IOUs – Did he agree with Varoufakis, after all?

German Finance Minister Wolfgang Schaeuble suggested that Greece should issue IOUs in order to meet some of its domestic payment obligations. According to information of German daily Handelsblatt, Schaueble suggested the IOUs option during discussions with other euro zone finance ministers at the Eurogroup meeting yesterday, Monday. Citing eurogroup participants, …

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FinMin Schaeuble said Greece may have to invent a “parallel currency”

A parallel currency in a parallel universe full of little parallel eurozones? German Finance Minister Wolfgang Schaeuble has reportedly said that Greece may have to invent a “parallel currency” alongside with the euro, if negotiations with the country’s creditors stall. Business Insider reports that Bloomberg reports that hardliner Schaeuble reportedly …

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“Grexit” scenarios with Drachmas flying around…

The “Grexit”scenarios have been around, alive and kicking already since last December, when the conservative ex PM made them top slogan against the left-wing. #Grexit” script-writers gave it a new boost right after the elections in January and when it became obvious that the new Greek new government had no …

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Guest Post: The Swiss Franc sends message to Merkel and Tsipras

Swiss chocolates bought in Swiss Francs? Oh, no! Or “much better,” after all? How does the lifting of euro cap by Swiss National Bank affect the Greek debt? I asked this question to economist “Cheshire Cat” and here is his analysis! Doors open wider for Merkel and Tripras to do …

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Gikas Hardouvelis: who is Greece’s new Finance Minister?

Two seem to be the key features of Greece’s new Finance Minister Gikas Hardouvelis: that he knows the euro mechanism and he knows the banks.  Hardouvelis is a professor of Finance & Economics at the University of Piraeus and Cheif Economist and Director of Research at the EUROBANK. He served …

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Economist: Troika is the 3-headed monster trapping countries in economic underworld

It looks as if slowly thε international community starts to realize that the grip of Troika’s imposed austerity leads to nowhere. Or better say: strict and merciless austerity leads right to the sharp teeth of a monster eating our flesh, to paraphrase the article “The euro’s hellhound -It is time …

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Study: Germany make trillion-euro profits from the Euro

Germany profits considerably form the euro even in case of high write-offs due to debt cuts of South European crisis sates, like Greece, Portugal, Spain. This is the result of a model calculation conducted by Prognos AG for German Bertelsmann Foundation. “Adding up the growth benefits of Euro membership results …

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Five billion euro in cash arrived in Cyprus per airplane from Frankfurt

Hundreds of millions of euro bank notes arrived to Cyprus per airplane, Cypriot media reported.  The plane had taken off from Frankfurt and landed on the island in the afternoon. A huge police operation was staged to carry the bank notes and distribute them  to several banks on the island as …

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